Is Montrose, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Montrose has remained a Seller's Market.
Key Takeaway
Montrose is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Montrose, MN
How much do homes in Montrose, MN cost?
Median Sold Price
$290,000
$155/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Montrose have sold for 3.2% less than they did a year ago.
Summary: The median home sold price in Montrose was $290,000 in March 2024, down 3.2% from last year, and the median price per square foot was $155.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $162K | $242K | +49.4% |
| 3 Bedrooms | $293K | $284.9K | -2.7% |
| 4 Bedrooms | $319.9K | $311K | -2.8% |
| 5+ Bedrooms | $378K | $350K | -7.4% |
Summary: Montrose housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 49.4%, 3 bedroom homes decreased by 2.7%, 4 bedroom homes decreased by 2.8%, and 5+ bedroom homes decreased by 7.4%.
Housing Supply in Montrose, MN
How many homes are available in Montrose, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 19 | 16 | -15.8% |
Summary: The Montrose real estate market had 16 homes for sale in March 2024, a 15.8% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 9 | 7 | -22.2% |
| 4 Bedrooms | 6 | 7 | +16.7% |
| 5+ Bedrooms | 2 | 0 | -100.0% |
Summary: The Montrose housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 22.2%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 8 | 3 | -62.5% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Montrose, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Montrose in March 2024, down by 62.5% month-over-month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for Montrose, MN
How long does it take to sell a home in Montrose, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 10 Days | 5 Days | -45.2% |
Summary: Homes in Montrose had an average of 5 days on market in Mar 2024, down by 45.2% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Montrose are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 3 homes were sold in Montrose; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
